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Key Players are engaging in Collaborations and Partnerships to Provide Innovative Offerings and Increase Profitability in Integrated Workplace Management System Market

The Integrated Workplace Management System (IWMS) solution was introduced to solve the problem of unstructured functions, such as real estate management, capital project management, facilities management, maintenance management, and sustainability & energy management. It helps the organizations in reducing cost and timeline of a project by integrating the core functionalities. IWMS solution optimizes the better utilization of a workplace and its related resources. It ensures transparency of projects, provides real-time updated information, delivers quality information, and improves decision-making.

Technological giants such as IBM Corporation, Oracle Corporation, Trimble Navigation Limited, Planon Corporation, and Accruent, LLC have created leading IWMS solutions and services to cater to the needs and demands of the market. These players adopted various growth strategies such as expansions, acquisitions, agreements, and joint ventures with partnerships and new product launches being the key strategies. New product launches accounted for almost half of the market share of all the growth strategies adopted by the major market players.

IBM Corporation and Oracle Corporation are the two key players who adopted these strategies to grow in the market. IBM Corporation adopted a mix of organic and inorganic growth strategies to diversify its presence to new regions. Some of the new developments of IBM include partnership with Deloitte for lease portfolios and accounting. The company also upgraded its IBM TRIRIGA solution to version 10.5 with better features and agility.

Oracle Corporation, also one of the leading players, similarly adopted many strategies to strengthen its market standing and product portfolio in the rapidly growing areas of the market. Oracle launched Primavera suite and project portfolio management cloud accelerator for deeper analytics and improvements in business process portfolio, public infrastructure monitoring, and contract management. The company also upgraded its Primavera portfolio management to version 9.1 to enhance the speed and to provide clients with browser support.

Key players are engaging in collaborations and partnerships to provide innovative offerings and increase profitability. Some of the companies that have engaged in partnerships and collaborations in the IWMS market are ARCHIBUS, INC., NJW Limited, Indus Systems, FM Systems, Inc., and iOffice Corporation.